Alphabet, the parent company of Google, has presented its 2021 third quarter results, which reflect a 41% increase in your income. Google’s advertising division continues to fund growth in its cloud-related areas, but Google Cloud keeps moving forward, and in this quarter it has entered almost 5,000 million dollars: 4,999 million dollars, 45% more than in the third quarter of last year. In addition, the cloud division has reported losses of 644 million dollars, almost half that of a year ago, when they were 1,200 million.
The company’s total revenue for the quarter reached $ 65.1 billion, and net revenues at $ 18.94 billion. In addition, its earnings per share have been $ 27.99. As usual, the Google Services division achieved the vast majority of revenue for the quarter, with $ 59.88 billion. Those of advertising rose to 53.130 million dollars, compared to 37.010 million dollars that it obtained in the same period last year.
Revenue from advertising on Google Search and other formats, except the sale of YouTube advertising, grew in the period to 37.93 billion dollars. Those of YouTube reached 7,210 million dollars, compared to 5,040 million that it obtained in the same quarter of 2020. As for the Other bets division, its income reached 182 million dollars, and its losses to 1,288 millions of dollars.
Sundar Pichai, the CEO of Alphabet and Google, has recalled that «Five years ago I presented our vision of becoming a company focused on Artificial Intelligence. This quarter’s results show how our investments are allowing us to develop more useful products for people and for our partners. Ongoing improvements to Search, and the new Pixel 6 are great examples of this. And as digital transformation and the shift to hybrid work continue, our cloud services are helping organizations collaborate and stay secure.«.
Secondly, Ruth Porat, CFO of Alphabet, has highlighted that «Our consistent investments to support long-term growth are reflected in strong financial performance, with revenues of $ 65.1 billion in the quarter. We continue to bring useful and valuable experiences to our divisions for both consumers and our partners«.